U.S. Captive Partners & Associates
A Captive Insurance Company (CIC) is a property and casualty insurance company established to provide coverage primarily for a parent company and its affiliated entities. It can be a valuable risk management tool, which allows businesses to more effectively manage corporate risks of all kinds. Captives often are set up to provide unique coverage or coverage not available through commercial property and casualty insurance companies. In many cases, the owner of the parent company is also the owner of the captive; however, the arrangement may be alternatively structured so the captive is owned directly by the operating company, another person, entity, or trust. The captive insurance company must act as a legitimate business entity and must remain in compliance with all insurance regulatory provisions and Internal Revenue Service requirements.
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